Security issues are hindering innovation, but customers want more choices and financial institutions are the most capable of delivering them, according to the new Ovum Global Payments Insight survey.

Ovum, which is a research and consulting firm based in London, joined with Florida-based payments firm ACI to ask 1,119 retailers, financial institutions and billing organizations around the world about their experiences, perceptions and expectations of payments. About 44% of the respondents to the 19-point questionnaire were in the Americas, the study said.

Financial institutions are perceived as the most capable providers of all payment technologies, according to the survey, though the numbers varied by payment technology. For example, when it comes to contactless cards, 68% said financial institutions were the most capable provider, but 17% said third-party entities such as PayPal were. Another 9% said telecom providers and 7% said startups. Only 46% and 48% said financial institutions were the most capable providers of dedicated apps and mobile QR codes, respectively.